Broadcom Inc. is in advanced talks to buy cybersecurity firm Symantec Corp., according to people familiar with the matter, seeking a further expansion into the more profitable software business.

Broadcom could reach an agreement to buy the Mountain View, California-based company within weeks, said the people, who asked to not be identified because the matter isn’t public. No deal has been finalized and the talks could fall through, the people said.

A representative for Symantec declined to comment. A representative for Broadcom didn’t immediately respond to a request for comment.

Symantec’s shares rose as much as 16% Wednesday in New York, their biggest intraday gain in almost eight months. They closed Tuesday at $22.10, giving the company a market value of about $13.7 billion. Broadcom shares slipped about 3.5%. They closed at $295.33 Tuesday, giving the semiconductor maker a market value of about $118 billion.